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Joint Legislative Commission on Land and Water Conservation, report to the 2007 General Assembly of North Carolina

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consider an enhancement of these tax credits. One option for enhancing the credits
would be to provide for a larger credit, with respect to both the percentage used to
determine the amount of the credit and dollar amount limitation on specific
taxpayers. The Commission recommends that the General Assembly consider
increasing the value of the credit for certain types of strategic or high- priority
interests in land.
Property Tax Incentives for Conservation. The Commission recognizes that the
present- use value property taxation system has been a valuable tool in the State's
efforts with respect to land conservation. The Commission recommends that the
General Assembly consider establishing a property tax incentive for lands being
managed for conservation. This incentive could take the form of a deferred
property tax value, similar to the current present- use value program for
agricultural, forestry, and horticultural land. The incentive could also take the form
of an income tax credit.
Time- Limited Conservation Agreements. The Commission notes that the State and
private conservation groups have made great use of conservation agreements to
preserve lands. The Commission further notes that these agreements have
generally been in perpetuity. The Commission recommends that the General
Assembly further study the potential effect of time- limited conservation agreements
on the State's conservation and preservation efforts.
Leveraging Federal Funds. The Commission notes that the State has generally been
prudent in the use of its conservation and preservation dollars by using that money
to leverage federal funds. The Commission recommends that the General
Assembly study alternative allocations of State funds to ensure that the State fully
leverages available federal funds.

33
consider an enhancement of these tax credits. One option for enhancing the credits
would be to provide for a larger credit, with respect to both the percentage used to
determine the amount of the credit and dollar amount limitation on specific
taxpayers. The Commission recommends that the General Assembly consider
increasing the value of the credit for certain types of strategic or high- priority
interests in land.
Property Tax Incentives for Conservation. The Commission recognizes that the
present- use value property taxation system has been a valuable tool in the State's
efforts with respect to land conservation. The Commission recommends that the
General Assembly consider establishing a property tax incentive for lands being
managed for conservation. This incentive could take the form of a deferred
property tax value, similar to the current present- use value program for
agricultural, forestry, and horticultural land. The incentive could also take the form
of an income tax credit.
Time- Limited Conservation Agreements. The Commission notes that the State and
private conservation groups have made great use of conservation agreements to
preserve lands. The Commission further notes that these agreements have
generally been in perpetuity. The Commission recommends that the General
Assembly further study the potential effect of time- limited conservation agreements
on the State's conservation and preservation efforts.
Leveraging Federal Funds. The Commission notes that the State has generally been
prudent in the use of its conservation and preservation dollars by using that money
to leverage federal funds. The Commission recommends that the General
Assembly study alternative allocations of State funds to ensure that the State fully
leverages available federal funds.